diff --git a/public/app/features/alerting/unified/components/rule-editor/AnnotationsField.test.tsx b/public/app/features/alerting/unified/components/rule-editor/AnnotationsField.test.tsx
index 5ca9a009cc2..c9b25fe59b5 100644
--- a/public/app/features/alerting/unified/components/rule-editor/AnnotationsField.test.tsx
+++ b/public/app/features/alerting/unified/components/rule-editor/AnnotationsField.test.tsx
@@ -296,39 +296,39 @@ describe('AnnotationsField', function () {
       expect(annotationKeyElements[1]).toHaveTextContent('Panel ID');
       expect(annotationValueElements[1]).toHaveTextContent('3');
     });
-
-    it('should render warning icon for panels of type other than graph and timeseries', async function () {
-      mockSearchApiResponse(server, [
-        mockDashboardSearchItem({ title: 'My dashboard', uid: 'dash-test-uid', type: DashboardSearchItemType.DashDB }),
-      ]);
-
-      mockGetDashboardResponse(
-        mockDashboardDto({
-          title: 'My dashboard',
-          uid: 'dash-test-uid',
-          panels: [
-            { id: 1, title: 'First panel', type: 'bar' },
-            { id: 2, title: 'Second panel', type: 'graph' },
-          ],
-        })
-      );
-
-      const user = userEvent.setup();
-
-      render(<FormWrapper formValues={{ annotations: [] }} />);
-
-      const { dialog } = ui.dashboardPicker;
-
-      await user.click(ui.setDashboardButton.get());
-      await user.click(await findByTitle(dialog.get(), 'My dashboard'));
-
-      const warnedPanel = await findByRole(dialog.get(), 'button', { name: /First panel/ });
-
-      expect(getByTestId(warnedPanel, 'warning-icon')).toBeInTheDocument();
-    });
   });
 });
 
+it('should render warning icon for panels of type other than graph and timeseries', async function () {
+  mockSearchApiResponse(server, [
+    mockDashboardSearchItem({ title: 'My dashboard', uid: 'dash-test-uid', type: DashboardSearchItemType.DashDB }),
+  ]);
+
+  mockGetDashboardResponse(
+    mockDashboardDto({
+      title: 'My dashboard',
+      uid: 'dash-test-uid',
+      panels: [
+        { id: 1, title: 'First panel', type: 'bar' },
+        { id: 2, title: 'Second panel', type: 'graph' },
+      ],
+    })
+  );
+
+  const user = userEvent.setup();
+
+  render(<FormWrapper formValues={{ annotations: [] }} />);
+
+  const { dialog } = ui.dashboardPicker;
+
+  await user.click(ui.setDashboardButton.get());
+  await user.click(await findByTitle(dialog.get(), 'My dashboard'));
+
+  const warnedPanel = await findByRole(dialog.get(), 'button', { name: /First panel/ });
+
+  expect(getByTestId(warnedPanel, 'warning-icon')).toBeInTheDocument();
+});
+
 function mockGetDashboardResponse(dashboard: DashboardDTO) {
   server.use(
     rest.get(`/api/dashboards/uid/${dashboard.dashboard.uid}`, (req, res, ctx) =>
diff --git a/public/app/features/alerting/unified/utils/access-control.ts b/public/app/features/alerting/unified/utils/access-control.ts
index d71134a4659..46ca371882c 100644
--- a/public/app/features/alerting/unified/utils/access-control.ts
+++ b/public/app/features/alerting/unified/utils/access-control.ts
@@ -1,7 +1,8 @@
+import { getConfig } from 'app/core/config';
 import { contextSrv } from 'app/core/services/context_srv';
 import { AccessControlAction } from 'app/types';
 
-import { isGrafanaRulesSource } from './datasource';
+import { GRAFANA_RULES_SOURCE_NAME, isGrafanaRulesSource } from './datasource';
 
 type RulesSourceType = 'grafana' | 'external';
 
@@ -128,3 +129,12 @@ export function getRulesAccess() {
       contextSrv.hasPermission(provisioningPermissions.readSecrets),
   };
 }
+
+export function getCreateAlertInMenuAvailability() {
+  const { unifiedAlertingEnabled } = getConfig();
+  const hasRuleReadPermissions = contextSrv.hasPermission(getRulesPermissions(GRAFANA_RULES_SOURCE_NAME).read);
+  const hasRuleUpdatePermissions = contextSrv.hasPermission(getRulesPermissions(GRAFANA_RULES_SOURCE_NAME).update);
+  const isAlertingAvailableForRead = unifiedAlertingEnabled && hasRuleReadPermissions;
+
+  return isAlertingAvailableForRead && hasRuleUpdatePermissions;
+}
diff --git a/public/app/features/dashboard/utils/getPanelMenu.test.ts b/public/app/features/dashboard/utils/getPanelMenu.test.ts
index 2afb76ce4d4..ad194684d10 100644
--- a/public/app/features/dashboard/utils/getPanelMenu.test.ts
+++ b/public/app/features/dashboard/utils/getPanelMenu.test.ts
@@ -12,8 +12,10 @@ import {
 } from '@grafana/data';
 import { AngularComponent, getPluginLinkExtensions } from '@grafana/runtime';
 import config from 'app/core/config';
+import { grantUserPermissions } from 'app/features/alerting/unified/mocks';
 import * as actions from 'app/features/explore/state/main';
 import { setStore } from 'app/store/store';
+import { AccessControlAction } from 'app/types';
 
 import { PanelModel } from '../state';
 import { createDashboardModelFixture } from '../state/__fixtures__/dashboardFixtures';
@@ -23,6 +25,7 @@ import { getPanelMenu } from './getPanelMenu';
 jest.mock('app/core/services/context_srv', () => ({
   contextSrv: {
     hasAccessToExplore: () => true,
+    hasPermission: jest.fn(),
   },
 }));
 
@@ -38,6 +41,8 @@ describe('getPanelMenu()', () => {
   beforeEach(() => {
     getPluginLinkExtensionsMock.mockRestore();
     getPluginLinkExtensionsMock.mockReturnValue({ extensions: [] });
+    grantUserPermissions([AccessControlAction.AlertingRuleRead, AccessControlAction.AlertingRuleUpdate]);
+    config.unifiedAlertingEnabled = false;
   });
 
   it('should return the correct panel menu items', () => {
@@ -619,4 +624,57 @@ describe('getPanelMenu()', () => {
       expect(windowOpen).toHaveBeenLastCalledWith(`${testSubUrl}${testUrl}`);
     });
   });
+  describe('Alerting menu', () => {
+    it('should render Create alert menu item if user has permissions to read and update alerts ', () => {
+      const panel = new PanelModel({});
+
+      const dashboard = createDashboardModelFixture({});
+      config.unifiedAlertingEnabled = true;
+      grantUserPermissions([AccessControlAction.AlertingRuleRead, AccessControlAction.AlertingRuleUpdate]);
+      const menuItems = getPanelMenu(dashboard, panel);
+      const moreSubMenu = menuItems.find((i) => i.text === 'More...')?.subMenu;
+
+      expect(moreSubMenu).toEqual(
+        expect.arrayContaining([
+          expect.objectContaining({
+            text: 'Create alert',
+          }),
+        ])
+      );
+    });
+
+    it('should not render Create alert menu item, if user does not have permissions to update alerts ', () => {
+      const panel = new PanelModel({});
+      const dashboard = createDashboardModelFixture({});
+
+      grantUserPermissions([AccessControlAction.AlertingRuleRead]);
+      config.unifiedAlertingEnabled = true;
+
+      const menuItems = getPanelMenu(dashboard, panel);
+
+      const moreSubMenu = menuItems.find((i) => i.text === 'More...')?.subMenu;
+
+      expect(moreSubMenu).toEqual(
+        expect.arrayContaining([
+          expect.not.objectContaining({
+            text: 'Create alert',
+          }),
+        ])
+      );
+    });
+    it('should not render Create alert menu item, if user does not have permissions to read update alerts ', () => {
+      const panel = new PanelModel({});
+
+      const dashboard = createDashboardModelFixture({});
+      grantUserPermissions([]);
+      config.unifiedAlertingEnabled = true;
+
+      const menuItems = getPanelMenu(dashboard, panel);
+
+      const moreSubMenu = menuItems.find((i) => i.text === 'More...')?.subMenu;
+      const createAlertOption = moreSubMenu?.find((i) => i.text === 'Create alert')?.subMenu;
+
+      expect(createAlertOption).toBeUndefined();
+    });
+  });
 });
diff --git a/public/app/features/dashboard/utils/getPanelMenu.ts b/public/app/features/dashboard/utils/getPanelMenu.ts
index f5725cc1f36..0894368211d 100644
--- a/public/app/features/dashboard/utils/getPanelMenu.ts
+++ b/public/app/features/dashboard/utils/getPanelMenu.ts
@@ -3,14 +3,16 @@ import {
   PanelMenuItem,
   PluginExtensionLink,
   PluginExtensionPoints,
+  urlUtil,
   type PluginExtensionPanelContext,
 } from '@grafana/data';
-import { AngularComponent, locationService, reportInteraction, getPluginLinkExtensions } from '@grafana/runtime';
+import { AngularComponent, getPluginLinkExtensions, locationService, reportInteraction } from '@grafana/runtime';
 import { PanelCtrl } from 'app/angular/panel/panel_ctrl';
 import config from 'app/core/config';
 import { t } from 'app/core/internationalization';
 import { contextSrv } from 'app/core/services/context_srv';
 import { getExploreUrl } from 'app/core/utils/explore';
+import { panelToRuleFormValues } from 'app/features/alerting/unified/utils/rule-form';
 import { DashboardModel } from 'app/features/dashboard/state/DashboardModel';
 import { PanelModel } from 'app/features/dashboard/state/PanelModel';
 import {
@@ -28,6 +30,7 @@ import { truncateTitle } from 'app/features/plugins/extensions/utils';
 import { SHARED_DASHBOARD_QUERY } from 'app/plugins/datasource/dashboard';
 import { store } from 'app/store/store';
 
+import { getCreateAlertInMenuAvailability } from '../../alerting/unified/utils/access-control';
 import { navigateToExplore } from '../../explore/state/main';
 import { getTimeSrv } from '../services/TimeSrv';
 
@@ -202,8 +205,27 @@ export function getPanelMenu(
     subMenu: inspectMenu,
   });
 
+  const createAlert = async () => {
+    const formValues = await panelToRuleFormValues(panel, dashboard);
+
+    const ruleFormUrl = urlUtil.renderUrl('/alerting/new', {
+      defaults: JSON.stringify(formValues),
+      returnTo: location.pathname + location.search,
+    });
+
+    locationService.push(ruleFormUrl);
+  };
+
+  const onCreateAlert = (event: React.MouseEvent) => {
+    event.preventDefault();
+    createAlert();
+    reportInteraction('dashboards_panelheader_menu', { item: 'create-alert' });
+  };
+
   const subMenu: PanelMenuItem[] = [];
   const canEdit = dashboard.canEditPanel(panel);
+  const isCreateAlertMenuOptionAvailable = getCreateAlertInMenuAvailability();
+
   if (!(panel.isViewing || panel.isEditing)) {
     if (canEdit) {
       subMenu.push({
@@ -237,6 +259,13 @@ export function getPanelMenu(
     }
   }
 
+  if (isCreateAlertMenuOptionAvailable) {
+    subMenu.push({
+      text: t('panel.header-menu.create-alert', `Create alert`),
+      onClick: onCreateAlert,
+    });
+  }
+
   // add old angular panel options
   if (angularComponent) {
     const scope = angularComponent.getScope();
@@ -273,6 +302,12 @@ export function getPanelMenu(
   // When editing hide most actions
   if (panel.isEditing) {
     subMenu.length = 0;
+    if (isCreateAlertMenuOptionAvailable) {
+      subMenu.push({
+        text: t('panel.header-menu.create-alert', `Create alert`),
+        onClick: onCreateAlert,
+      });
+    }
   }
 
   if (canEdit && panel.plugin && !panel.plugin.meta.skipDataQuery) {
diff --git a/public/locales/de-DE/grafana.json b/public/locales/de-DE/grafana.json
index fe5d7e7981d..d2bd547ab4d 100644
--- a/public/locales/de-DE/grafana.json
+++ b/public/locales/de-DE/grafana.json
@@ -773,6 +773,7 @@
   "panel": {
     "header-menu": {
       "copy": "Kopieren",
+      "create-alert": "",
       "create-library-panel": "Bibliotheksleiste erstellen",
       "duplicate": "Duplikat",
       "edit": "Bearbeiten",
diff --git a/public/locales/en-US/grafana.json b/public/locales/en-US/grafana.json
index 29c575e4c4b..d0369489aa9 100644
--- a/public/locales/en-US/grafana.json
+++ b/public/locales/en-US/grafana.json
@@ -773,6 +773,7 @@
   "panel": {
     "header-menu": {
       "copy": "Copy",
+      "create-alert": "Create alert",
       "create-library-panel": "Create library panel",
       "duplicate": "Duplicate",
       "edit": "Edit",
diff --git a/public/locales/es-ES/grafana.json b/public/locales/es-ES/grafana.json
index ca9fd8b7530..d80df14b05f 100644
--- a/public/locales/es-ES/grafana.json
+++ b/public/locales/es-ES/grafana.json
@@ -779,6 +779,7 @@
   "panel": {
     "header-menu": {
       "copy": "Copiar",
+      "create-alert": "",
       "create-library-panel": "Crear panel de librería",
       "duplicate": "Duplicar",
       "edit": "Editar",
diff --git a/public/locales/fr-FR/grafana.json b/public/locales/fr-FR/grafana.json
index e887ae1378b..f703114f1ff 100644
--- a/public/locales/fr-FR/grafana.json
+++ b/public/locales/fr-FR/grafana.json
@@ -779,6 +779,7 @@
   "panel": {
     "header-menu": {
       "copy": "Copier",
+      "create-alert": "",
       "create-library-panel": "Créer un panneau Bibliothèque",
       "duplicate": "Dupliquer",
       "edit": "Modifier",
diff --git a/public/locales/pseudo-LOCALE/grafana.json b/public/locales/pseudo-LOCALE/grafana.json
index c1860822a00..172d2a21114 100644
--- a/public/locales/pseudo-LOCALE/grafana.json
+++ b/public/locales/pseudo-LOCALE/grafana.json
@@ -773,6 +773,7 @@
   "panel": {
     "header-menu": {
       "copy": "Cőpy",
+      "create-alert": "Cřęäŧę äľęřŧ",
       "create-library-panel": "Cřęäŧę ľįþřäřy päʼnęľ",
       "duplicate": "Đūpľįčäŧę",
       "edit": "Ēđįŧ",
diff --git a/public/locales/zh-Hans/grafana.json b/public/locales/zh-Hans/grafana.json
index 8f7810c189e..9e5da4eb6d7 100644
--- a/public/locales/zh-Hans/grafana.json
+++ b/public/locales/zh-Hans/grafana.json
@@ -767,6 +767,7 @@
   "panel": {
     "header-menu": {
       "copy": "复制",
+      "create-alert": "",
       "create-library-panel": "创建库面板",
       "duplicate": "复制",
       "edit": "编辑",